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8 bedroom house of multiple occupation for sale
Revilo, Highfield Avenue, Bishops Stortford CM23 5LS
£550,000
Revilo, Highfield Avenue, Bishops Stortford CM23 5LS
£550,000
Our Summary
- For sale by Unconditional Online Auction
- Terms: Auction Details: The sale of this property will take place on the stated date by way of Timed Auction and is being sold under an Unconditional sale type
- Auction Deposit and Fees: The following deposits and non- refundable auctioneers fees apply: • 5% deposit (subject to a minimum of £5,000) • Buyers Fee of 4
- Additional Information: For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page
- This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties)
- Scope to increase rents in line with market level
Description
This freehold detached 8-bedroom HMO property is located in a popular residential area of Bishops Stortford, close to local amenities, schools, and the town center. The property is fully let, with each room currently rented out at £600 per month, generating an annual income of £57,600. The property has potential to increase rents to £1,000 per month per room, giving a potential income of £96,000 per year. The property is situated in an area with low flood risk and has good mobile phone coverage and broadband speeds. The sale will take place through an unconditional online auction, with a 5% deposit and a buyer's fee of 4.8% of the purchase price. The property is being sold with a guide price and a reserve price, with the reserve price being within 10% of the guide price.